The production department of Zan Corporation has submitted the following forecast of units to be produced by quarter for the upcoming fiscal year 1st Quarter 2nd Quarter 3rd Quarter 24,000 4th Quarter 22,000 Units to be produced 21,000 23,000 In addition, 21,000 grams of raw materials inventory is on hand at the start of the 1st Quarter and the beginning accounts payable for the 1st Quarter is $8,000 Each unit requires 4 grams of raw material that costs $1.20 per gram. Management desires to end each quarter with an inventory of raw materials equal to 25% of the following quarter's production needs. The desired ending inventory for the 4th Quarter is 8,000 grams. Management plans to pay for 60% of raw material purchases in the quarter acquired and 40% in the following quarter. Each unit requires 0.20 direct labor-hours and direct laborers are paid $12.50 per hour